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ADB emphasises innovation for Sri Lanka’s economic transformation

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The Asian Development Bank (ADB) hosted its 13th Serendipity Knowledge Programme (SKOP 13) at the Cinnamon Grand Colombo on 19th June 2025, focusing on ‘Innovation for Economic Transformation.’ The event highlighted the crucial role of innovation in Sri Lanka’s current economic and political shifts, as the nation seeks to forge a new, resilient economic pathway.

In his welcome remarks, Takafumi Kadono, Country Director for ADB Sri Lanka, underscored the core message of the program: “It is in this context that we organised the 13th event under the Serendipity Knowledge Programme on Innovation for Economic Transformation.”

“Innovation is a major factor that contributes to economic transformation through productivity gains and shifting resources to produce more complex goods in productive sectors and deliver high quality services. High value production and services facilitate access to global and regional value chains and diverse markets, create better jobs, change economic structures, and improve living standards. For developing countries, such as Sri Lanka, building national innovation systems to support purposeful innovation is a key factor in transforming their economies,” he said.

Kadono emphasised that Sri Lanka is at a transformative moment, responding to its economic crisis and the public’s call for significant changes in economic dispensation and governance.

“The government’s extensive reforms aim to meet these expectations and stabilise the economy. The ADB remains a key partner in this endeavor, exploring creative and non-traditional avenues to unlock the country’s potential,” he noted.

In line with ADB’s Strategy 2030, which advocates a country-focused approach, the bank’s Country Partnership Strategy 2024-2028 for Sri Lanka prioritises knowledge-based, innovative, holistic, and integrated solutions.

As part of this commitment, the ADB has supported the establishment of three technology faculties, an engineering faculty, and a medical faculty across five Sri Lankan universities. The innovations emerging from these institutions serve as a testament to the capacity within academia to contribute to the economy and society through research and development. The event included a video showcasing the achievements of students and faculty from these universities.

The discussions at SKOP 13 also delved into the ‘triple helix model’ of innovation, highlighting the essential collaboration between government, academia, and industry.

A special focus was placed on the roles of government and academia, with renowned expert Professor Mariana Mazzucato delivering a keynote speech on her ‘mission-oriented’ approach to innovation policy, where governments set ambitious societal goals to address major challenges. Kadono expressed hope that her insights would inspire new perspectives on driving innovation in Sri Lanka.

The presence of Prime Minister Dr. Harini Amarasuriya at the event was seen as a strong indication of the government’s commitment to fostering innovation and developing universities as innovation hubs. The programme included two panel discussions to expand on these insights, exploring the requirements for establishing an innovative mindset and creating an environment for innovation-led solutions to address Sri Lanka’s key challenges.

As Kadono had expressed hope, the deliberations helped strengthen the long-term collaboration between the ADB, the government and other stakeholders, encouraging bold initiatives to drive Sri Lanka’s urgent economic transformation.



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Mattala Wildlife Unit to boost revenue, tourism and investor confidence

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Dignitaries at the MOU signing ceremony.

The launch of a dedicated wildlife unit at Mattala Rajapaksa International Airport is expected to deliver significant economic benefits by improving aviation safety, strengthening eco-tourism and enhancing Sri Lanka’s investment appeal, Wildlife Conservation Department Director General Ranjan Marasinghe said.

Speaking at the signing of a Memorandum of Understanding between the Department of Wildlife Conservation and Airport and Aviation Services (Sri Lanka) Limited, Marasinghe said the initiative links conservation directly with national development and revenue generation.

“This is more than an administrative step—it is a forward-looking initiative that aligns conservation, aviation safety and national development in a single strategic effort,” he said.

He noted that wildlife management at airports is globally recognised as essential for reducing bird strikes and wildlife-related disruptions, which can lead to costly repairs, delays and operational losses.

By proactively managing such risks, the Mattala Wildlife Unit is expected to lower potential costs for airlines and airport operators while improving efficiency and confidence among carriers considering future operations.

Marasinghe said the airport’s proximity to premier tourism destinations such as Yala National Park and Udawalawe National Park, together with marine tourism opportunities including Blue Whale watching, gives Mattala a strong commercial advantage.

“This convergence of aviation and wildlife tourism creates an extraordinary opportunity,” he said, adding that the airport has the potential to become a major gateway for high-value eco-tourism.

Industry observers note that wildlife tourists generally spend more on guided safaris, hotels, transport and local experiences, generating stronger foreign exchange earnings and employment opportunities for surrounding communities.

Marasinghe said integrating environmental standards into airport operations would also improve Sri Lanka’s global image at a time when investors and international travellers increasingly value sustainability.

“By integrating environmental considerations into airport operations, we position Sri Lanka more favourably on the global stage, demonstrating that we are a nation committed to sustainability, responsibility and innovation,” he said.

He expressed hope that the Mattala model would be replicated at other international airports, creating long-term savings, stronger environmental governance and wider economic returns.

The Director General said the Department of Wildlife Conservation remains committed to supporting the national economy through new and meaningful avenues while protecting Sri Lanka’s natural assets.

“Conservation must also contribute to development,” he said, stressing that protecting biodiversity and generating growth can go hand in hand.

By Ifham Nizam

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Aitken Spence Elevators and CINEC usher in a new era for Sri Lanka’s elevator industry

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Aitken Spence Elevators, in collaboration with CINEC Campus, recently held the Certificate Awarding Ceremony for the latest batch of trainees of the Elevator Serviceman Course at the Elevator Training Centre (ETC). The graduates were awarded their NVQ Level 3 certifications, marking a significant milestone in their professional journey within Sri Lanka’s vertical transportation industry.

The certification programme was developed in partnership with the National Apprentice and Industrial Training Authority (NAITA) and the Ministry of Vocational Training & Skills Development, ensuring trainees received industry-recognised qualifications, alongside strong practical competencies. The ceremony was attended by directors of both Aitken Spence and CINEC Campus, as well as staff members, lecturers, and invited guests of the graduating students

Anuka Prashan Pieris was recognised as the Most Outstanding Student of the batch in appreciation of his exceptional performance and commitment throughout the programme. The Elevator Training Centre plays a vital role in addressing the growing demand for skilled elevator service technicians through structured training and hands-on learning. The facility features Sri Lanka’s first Elevator Training Tower, offering trainees practical exposure aligned with both local and international standards.

All graduates of the current batch have already commenced their careers as technicians and supervisors at Aitken Spence Elevators. Their seamless transition into the workforce reflects the programme’s strong emphasis on developing job-ready professionals capable of contributing effectively from day one.

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Sterling Steels wins Merit Award at SLIA Annual Product Awards 2026

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COLOMBO, SRI LANKA– Sterling Steels (Pvt) Ltd, a premier manufacturer of high-quality globally renowned steel roofing & cladding, announced it has been honored with a prestigious Merit Award at the Sri Lanka Institute of Architects (SLIA) Annual Product Awards 2026. The national recognition was awarded in the highly competitive Zinc-Aluminium Coated Profile Steel Sheet category, underscoring the company’s dedication to excellence, innovation, and superior quality in the Sri Lankan construction industry.

The award was presented during a grand ceremony held at the esteemed Nelum Pokuna Theatre, a key event in the nation’s architectural and construction calendar. The SLIA Annual Product Awards are widely regarded as a benchmark for quality and design excellence, with products rigorously evaluated by a panel of distinguished architects and industry experts. Receiving this Merit Award positions Sterling Steels among the top-tier suppliers of building materials in the country.

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